3. Incorporation of the Institute.—(1) All persons whose names are entered in the Register of the
dissolved company immediately before the commencement of this Act and all persons who may hereafter
have their names entered in the Register to be maintained under this Act, so long as they continue to have
their names borne on the Register to be maintained under this Act, are hereby constituted a body
corporate by the name of the Institute of Company Secretaries of India and all such persons shall be
known as members of the Institute.
(2) The Institute shall have perpetual succession and a common seal and shall have power to acquire,
hold and dispose of property, movable or immovable and shall by its name sue or be sued.
4. Entry of names in the 3
[Register of members].—(1) Any of the following persons shall be
entitled to have his name entered in the 3
[Register of members], namely:—
(a) any person who immediately before the commencement of this Act was an Associate or a
Fellow (including an Honorary Fellow) of the dissolved company;
(b) any person who is a holder of the Diploma in Company Secretaryship awarded by the
Government of India;
(c) any person who has passed the examinations conducted by the dissolved company and has
completed training either as specified by the dissolved company or as prescribed by the Council,
except any such person who is not a permanent resident of India;
(d) any person who has passed such examination and completed such training, as may be
prescribed for membership of the Institute;
1. The words “the Capital Issues (Control) Act, 1947 (29 of 1947)” omitted by Act 12 of 2022, s. 74 (w.e.f.10-5-2022).
2. Subs. by s. 74, ibid., for “the Monopolies and Restrictive Trade Practices Act, 1969 (54 of 1969), the Foreign
Exchange Regulation Act, 1973 (46 of 1973)” (w.e.f.10-5-2022).
3. Subs. by s. 75, ibid., for “Register” (w.e.f 10-5-2022).
6
(e) any person who has passed such other examination and completed such other training
1
[outside India] as is recognised by the Central Government or the Council as being equivalent to the
examination and training prescribed under this Act for membership of the Institute:
Provided that in the case of any person belonging to any of the classes mentioned in this sub-section
who is not permanently residing in India, the Central Government or the Council may impose such further
conditions as it may deem to be necessary or expedient in the public interest.
(2) Every person belonging to the class mentioned in clause (a) or clause (b) of sub-section (1) shall
have his name entered in the 2
[Register of members] without the payment of any entrance fee.
3
[(3) Every person belonging to any of the classes mentioned in clauses (c), (d) and (e) of
sub-section (1) shall have his name entered in the 2
[Register of members] on application being made and
granted in the prescribed manner and on payment of such fees, as may be determined, by notification, by
the Council, 4
[***]:
5* * * * *].
(4) The. Central Government may take such steps as may be necessary for the purpose of having the
names of all persons belonging to the classes mentioned in clauses (a) and (b) of sub-section (1) entered
in the 2
[Register of members] at the commencement of this Act.
(5) Notwithstanding anything contained in this section, the Council may confer on any person
Honorary Fellow Membership, if the Council is of the opinion that such person has made a significant
contribution to the profession of Company Secretaries and thereupon the Council shall enter the name of
such person in the 2
[Register of members] but such person shall not have any voting rights in any election
or meetings of the Institute and shall not also be required to pay any fee to the Institute.
5. Associates and Fellows.—(1) The members of the Institute shall be divided into two classes
designated respectively as Associates and Fellows.
(2) Any person other than a person to whom the provisions of sub-section (4) apply, shall, on his
name being entered in the 6
[Register of members], be deemed to have become an Associate and as long as
his name remains so entered, shall be entitled to use the letters “A.C.S.” after his name to indicate that he
is an Associate.
7
[(3) A person, being an Associate who has been in continuous practice in India as a Company
Secretary for at least five years and a person who has been an Associate for a continuous period of not
less than five years and who possesses such qualifications or practical experience as the Council may
prescribe with a view to ensuring that he has experience equivalent to the experience normally acquired
as a result of continuous practice for a period of five years as a Company Secretary shall, on payment of
such fees, as may be determined, by notification, by the Council, 8
[***], and on application made and
granted in the prescribed manner, be entered in the 6
[Register of members] as a Fellow:
9* * * * *].
1. Subs. by Act 12 of 2022, s. 75, for “without India” (w.e.f.10-5-2022).
2. Subs. by s. 75, ibid., for “Register” (w.e.f.10-5-2022).
3. Subs. by Act 8 of 2006, s. 4, for sub-section (3) (w.e.f. 8-8-2006).
4. The words “which shall not exceed rupees three thousand” omitted by Act 12 of 2022, s. 75 (w.e.f.10-5-2022).
5. The proviso omitted by s. 75, ibid., (w.e.f. 10-5-2022).
6. Subs. by, s. 76, ibid., for “Register” (w.e.f.10-5-2022).
7. Subs. by Act 8 of 2006, s. 4, for sub-section (3) (w.e.f. 8-8-2006)
8. The words “which shall not exceed rupees five thousand,” omitted by Act 12 of 2022, s. 76 (w.e.f.10-5-2022).
9. The proviso omitted by s. 76, ibid., (w.e.f 10-5-2022).
7
Explanation I.—For the purposes of this sub-section, a person shall be deemed to have practised in
India for any period for which he has held a certificate of practice under section 6, notwithstanding that he
did not actually practise during that period.
Explanation II.—In computing the continuous period during which a person has been an Associate of
the Institute, there shall be included any continuous period during which the person has been an Associate
of the dissolved company immediately before he became an Associate of the Institute.]
(4) Any person who was a Fellow of the dissolved company and who is entitled to have his name
entered in the 1
[Register of members] under clause (a) of sub-section (1) of section 4, shall be entered in
the 1
[Register of members] as a Fellow.
(5) Any person whose name is entered in the 1
[Register of members] as a Fellow shall, so long as his
name remains so entered, be entitled to use the letters “F.C.S.” after his name to indicate that he is a
Fellow.
6. Certificate of practice.—(1) No member of the Institute shall be entitled to practise, whether in
India or elsewhere, unless he has obtained from the Council a certificate of practice.
2
[(2) A member who desires to be entitled to practise shall make an application in such form and pay
such annual fee, for his certificate as may be determined, by notification, by the Council, 3
[***], and such
fee shall be payable on or before the 1st day of April in each year:
4* * * * *];
5
[(3) The certificate of practice obtained under sub-section (1) may be cancelled by the Council under
such circumstances as may be prescribed.]
7. Members to be known as Company Secretaries.—Every member of the Institute in practice
shall, and any other member may, use the designation of a Company Secretary and no member using such
designation shall use any other description, whether in addition thereto or in substitution therefor:
Provided that nothing in this section shall be deemed to prohibit any such member from adding any
other description or letters to his name, if entitled thereto, to indicate membership of such other institute
whether in India or elsewhere as may be recognised in this behalf by the Council, or any other
qualification that he may possess, or to prohibit a firm, all the partners of which are members of the
Institute and in practice, from being known by its firm name as Company Secretaries.
8. Disabilities.—Notwithstanding anything contained in section 4, a person shall not be entitled to
have his name entered in, or borne on, the 6
[Register of members]; if he—
(a) has not attained the age of twenty-one years at the time of his application for the entry of his
name in the 6
[Register of members]; or
(b) is of unsound mind and stands so adjudged by a competent court; or
(c) is an undischarged insolvent 7
[or undischarged bankrupt]; or
7
[(ca) is declared bankrupt under the Insolvency and Bankruptcy Code, 2016 (31 of 2016);]
(d) being a discharged insolvent, has not obtained from the court a certificate stating that his
insolvency was caused by misfortune without any misconduct on his part; or
1. Subs. by Act 12 of 2022, s. 76, for “Register” (w.e.f.10-5-2022).
2. Subs. by Act 8 of 2006, s. 5, for sub-section (2) (w.e.f. 8-8-2006).
3. The words “which shall not exceed rupees three thousand,” omitted by Act 12 of 2022, s. 77 (w.e.f.10-5-2022).
4. The proviso omitted by s. 77, ibid., (w.e.f 10-5-2022).
5. Ins. by Act 8 of 2006, s. 5, (w.e.f. 8-8-2006).
6. Subs. by Act 12 of 2022, s. 78, for “Register” (w.e.f.10-5-2022).
7. Ins. by s. 78, ibid. (w.e.f. 10-5-2022).
8
(e) has been convicted by a competent court, whether within or 1
[outside India], of an offence
involving moral turpitude and punishable with imprisonment or of an offence, not of a technical
nature, committed by him in his professional capacity unless in respect of the offence committed he
has either been granted a pardon or, on an application made by him in this behalf, the Central
Government has, by an order in writing, removed the disability; or
(f) has been removed from membership of the Institute on being found on inquiry to have been
guilty of professional or other misconduct:
Provided that a person who has been removed from membership for a specified period shall not be
entitled to have his name entered in the 2
[Register of members] until the expiry of such period.